Many investors in qualified opportunity zones face a large upcoming tax hit when their QOZ deferral ends. They should consider harvesting stock market losses in advance of it.

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CPA personal financial planners’ ability to discern the story inherent in a client’s tax returns brings unique value to the ...

A commitment to public accounting can bring personal growth and professional fulfillment and create opportunities to find greater purpose by helping clients realize their dreams.

The Fifth Circuit’s decision in Grigsby, 86 F.4th 602 (5th Cir. 2023), emphasizes the need for taxpayers to clearly define business components when preparing and documenting their Sec. 41 credit.

Preventing unwanted tax consequences from compensatory partnership interests requires understanding Regs. Sec. 1.721-1(b)(2) and safe-harbor guidance under Rev. Procs. 93-27 and 2001-43. Form 7217, ...

Editors: Alexander J. Brosseau, CPA, and Greg A. Fairbanks, J.D., LL.M. Generally, taxpayers with a foreign tax redetermination (FTR) must file amended returns to notify the IRS of changes to their ...

The Inflation Reduction Act extended and revised the Sec. 30D new clean vehicle credit and created a tax credit opportunity for used vehicles as well under Sec. 25E. For both credits, eligibility ...

Editors: Alexander J. Brosseau, CPA, and Greg A. Fairbanks, J.D., LL.M. Sec. 280G was enacted to address the potential for “golden parachutes” paid in connection with a corporate transaction that ...

Individuals are subject to two income tax systems: the regular income tax and the alternative minimum tax (AMT). Taxpayers must compute their tax under each system and pay the greater of the two ...